Hagerty Introduces Legislation to Provide Crucial Regulatory Clarity for Digital Assets

September 29, 2022

NASHVILLE, TN—United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, today introduced the Digital Trading Clarity Act of 2022, which provides digital asset exchanges with a safe harbor from certain U.S. Securities and Exchange Commission (SEC) enforcement actions, providing clarity around the classifications of digital assets and applicable liabilities under existing securities laws without sacrificing consumer protection.

“The current lack of regulatory clarity for digital assets presents entrepreneurs and businesses with a choice: navigate the significant regulatory ambiguity in the U.S., or move overseas to markets with clear digital asset regulations,” said Senator Hagerty. “Sadly, this uncertainty discourages investment and job creation here in America and jeopardizes the United States’ leadership in this transformational technology at such a crucial time. This legislation is an important step toward providing digital asset intermediaries with much-needed certainty and removing the barriers to entry currently impeding the growth and liquidity of U.S. cryptocurrency markets.”